Sumitomo Mitsui Trust Group Reduces $19M in ConocoPhillips ($COP)
Key Points
- Sumitomo Mitsui Trust Group changed its ConocoPhillips ($COP) stake by 5.7% last quarter, cutting to 2,650,661 shares worth $310.07 million.
- Wall Street's consensus rating on $COP is Buy and an average price target of $142.77.
- $COP last traded around $116.98.
Sumitomo Mitsui Trust Group trimmed its position in ConocoPhillips ($COP) by 5.7% during the most recent quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,650,661 shares of ConocoPhillips after selling 159,282 shares during the quarter. Sumitomo Mitsui Trust Group's holdings in ConocoPhillips were worth $310.07 million as of its most recent filing.
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About ConocoPhillips
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids. It operates in five segments: Alaska; Lower 48; Canada; Europe, Middle East and North Africa; and Asia Pacific. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects. It serves in the United States, Canada, China, Equatorial Guinea, Libya, Malaysia, Norway, Singapore, the United Kingdom, and internationally. ConocoPhillips was founded in 1917 and is headquartered in Houston, Texas.
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